Natural Gas is trading volatile and still struggling to sustain above the 220 level - Swastika Investmart
COMMODITY OUTLOOK
DAILY COMMODITY MARKET UPDATE
NEWS IN HEADLINE
* Oil prices steady as strong dollar offsets bullish inventory draw
* Gold sinks as dollar surges on strong payrolls data
* Oil rises marginally as markets weigh inventory data, US ratings downgrade
CHART OF THE DAY
NATURALGAS: NATURALGAS is trading volatile and still struggling to sustain above the 220 level, where it faced resistance in a strong supply zone of 222-225. On the downside, the 100 SMA is acting as a strong support, which is currently placed at the 205 level. Below this, we can expect selling pressure to get momentum towards the 200-195 levels. On the upside, 235 will act as a strong resistance area
OUTLOOK:
* Bullion: Day trend is indicating sideways to upside in Gold &Silver.
* Energy: Day trend is indicating uptrend in Crude oil & Natural gas
* Base metals: Day trend is indicating uptrend in all base metals.
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